Legacy Financial Advisors Inc. Has $797,000 Stake in Booking Holdings Inc. $BKNG

Legacy Financial Advisors Inc. lifted its position in Booking Holdings Inc. (NASDAQ:BKNG) by 2,239.8% during the second quarter, HoldingsChannel.com reports. The fund owned 4,469 shares of the business services provider’s stock after purchasing an additional 4,278 shares during the period. Legacy Financial Advisors Inc.’s holdings in Booking were worth $797,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC raised its position in shares of Booking by 34.9% during the fourth quarter. Brighton Jones LLC now owns 251 shares of the business services provider’s stock worth $1,249,000 after purchasing an additional 65 shares during the period. Revolve Wealth Partners LLC bought a new stake in shares of Booking in the fourth quarter worth $209,000. Sivia Capital Partners LLC boosted its holdings in Booking by 25.0% during the second quarter. Sivia Capital Partners LLC now owns 165 shares of the business services provider’s stock worth $955,000 after purchasing an additional 33 shares during the last quarter. Schnieders Capital Management LLC. boosted its holdings in Booking by 50.0% during the second quarter. Schnieders Capital Management LLC. now owns 87 shares of the business services provider’s stock worth $504,000 after purchasing an additional 29 shares during the last quarter. Finally, Osterweis Capital Management Inc. bought a new position in Booking in the second quarter valued at $179,000. Institutional investors and hedge funds own 92.42% of the company’s stock.

Insider Transactions at Booking

In related news, VP Peter J. Millones sold 50,050 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $207.59, for a total transaction of $10,389,879.50. Following the transaction, the vice president directly owned 375,025 shares of the company’s stock, valued at approximately $77,851,439.75. The trade was a 11.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vanessa Ames Wittman sold 375 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $211.00, for a total value of $79,125.00. Following the completion of the sale, the director owned 16,133 shares in the company, valued at approximately $3,404,063. This trade represents a 2.27% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 80,550 shares of company stock valued at $16,722,744. Company insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

BKNG has been the topic of several recent research reports. BMO Capital Markets reiterated an “outperform” rating and issued a $250.00 price target (up from $240.00) on shares of Booking in a research note on Wednesday, August 5th. DA Davidson set a $240.00 price objective on Booking in a report on Thursday, August 6th. Citigroup restated a “buy” rating and issued a $236.00 price objective (up from $225.00) on shares of Booking in a report on Wednesday, August 5th. Truist Financial set a $242.00 target price on Booking in a research report on Wednesday, August 5th. Finally, Oppenheimer reiterated an “outperform” rating and set a $240.00 target price (up from $215.00) on shares of Booking in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $236.70.

Key Stories Impacting Booking

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Rosenblatt initiated coverage with a Buy rating and a $245 price target, implying approximately 25% upside from the referenced share price. The firm views Booking as the best-positioned online travel agency despite industry challenges, providing a potentially meaningful catalyst for the shares. Rosenblatt sees Booking as the best-positioned online travel agency
• Positive Sentiment: Zacks characterized Booking as a strong momentum stock based on its style-score framework, reinforcing the case that recent price and fundamental trends could attract momentum-oriented investors. Why Booking is a strong momentum stock
• Positive Sentiment: Erste Group Bank brokers raised their earnings estimates for Booking, suggesting improving expectations for the company’s future profitability. Higher forecasts can support valuation, although the article provides no details on the size or rationale of the revisions. Erste Group Bank lifts Booking earnings estimates
• Neutral Sentiment: Priceline CEO Brigit Zimmerman discussed travel trends ahead of the Labor Day weekend. The interview may offer insight into demand and booking patterns, but the available report does not specify whether the commentary was favorable or unfavorable for Booking. Priceline CEO discusses travel trends
• Negative Sentiment: Booking has lagged the broader market this year, which could weigh on investor sentiment and highlights concerns about online-travel-sector growth or valuation. Separately, director Paulo Pisano sold 3,000 shares worth about $610,440 under a pre-arranged Rule 10b5-1 plan; the planned nature of the transaction reduces its signaling value, but it remains a modest negative headline.

Booking Price Performance

Booking stock opened at $195.69 on Wednesday. The firm has a market capitalization of $147.04 billion, a PE ratio of 21.66, a P/E/G ratio of 1.23 and a beta of 1.07. The company’s 50-day moving average is $193.34 and its 200-day moving average is $177.91. Booking Holdings Inc. has a fifty-two week low of $150.14 and a fifty-two week high of $226.10.

Booking (NASDAQ:BKNG) last issued its earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.11. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The company had revenue of $7.35 billion for the quarter, compared to analysts’ expectations of $7.19 billion. During the same period in the prior year, the firm earned $55.40 EPS. Booking’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, analysts expect that Booking Holdings Inc. will post 10.48 EPS for the current year.

Booking Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th will be paid a $0.42 dividend. The ex-dividend date is Friday, September 11th. This represents a $1.68 annualized dividend and a yield of 0.9%. Booking’s dividend payout ratio is currently 18.58%.

About Booking

Booking Holdings Inc is a global online travel company that operates a portfolio of consumer brands and technology platforms that facilitate the search for and booking of travel services. The company’s businesses focus on accommodations, transportation and related travel services through consumer-facing websites and apps as well as partner distribution channels. Booking Holdings was originally founded as Priceline in the late 1990s and adopted the Booking Holdings name in 2018; it is headquartered in Norwalk, Connecticut.

Its core offerings include online reservations for hotels, vacation rentals and other lodging; flight and car rental search and booking; and ancillary services that support travel planning and on-property experiences.